Stephens Small Cap, Mid Cap funds to become American Beacon funds

By Toni Weeks

San Diego, Nov. 29 - The board of trustees of Stephens Funds has approved the reorganization of the Stephens Small Cap Growth Fund into the American Beacon Stephens Small Cap Growth Fund and the Stephens Mid Cap Growth Fund into the American Beacon Stephens Mid-Cap Growth Fund, according to a 497 filing with the Securities and Exchange Commission.

The reorganization will shift investment management of the funds to Fort Worth-based American Beacon Advisors, Inc. from the Stephens Investment Management Group, LLC. Stephens will continue the day-to-day portfolio management as the funds' sub-adviser, thereby providing continuity in the portfolio management team.

On Feb. 24, class A and class I shares of the Stephens fund will be exchanged on a tax-free basis for Investor class and Institutional class shares, respectively, of the applicable American Beacon fund with the same aggregate value.

In connection with the proposed reorganization, which is subject to shareholder approval, redemption fees have been suspended going forward.

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